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PepsiCo Says There Are No Plans To Divest Its Drinks Business

March 23, 2013: 12:00 AM EST
Following a report in the press suggesting that the company might be forced by investors to jettison its underperforming beverage business, PepsiCo issued a statement saying that it has no current plans for such a move. The company needs to spend some time figuring out how to “unlock value that might be better unlocked while PepsiCo still owns the business,”  said CFO Hugh Johnston. A report in the Telegraph of London said activist investor Norman Peltz might  pressure PepsiCo to seek a merger with former Kraft Foods snack unit Mondelez International. Peltz has been building his stake in PepsiCo over recent weeks. He is known for buying heavily into companies, then forcing corporate changes.
"PepsiCo says it's not hungry for a big snack deal", The Economic Times, March 23, 2013, © Bennett, Coleman & Co. Ltd
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